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Question 15 5 points Saved A, B and C are partners with capital balances of $40000 (forty thousand dollars) each. The three partners share income
Question 15 5 points Saved A, B and C are partners with capital balances of $40000 (forty thousand dollars) each. The three partners share income and losses in the ratio of 1:1:1. A withdraws from the partnership. What is the entry if A is paid $100,000 in partnership cash for his equity? A. Dr. A, Capital 40,000, Dr. B, Capital 30,000, Dr. C, Capital 30,000; Cr Cash 100000 B. Dr. A, Capital 100,000; Cr. Cash 100,000 C. Dr. Cash 100000; Cr. A Capital 100000 D. Dr Cash 100000; Cr. A, Capital 40,000, Cr. B, Capital 30,000, Cr. C, Capital 30,000 E. None of the above Question 16 5 points Save Answer For partnership X if the total partnership net income is 800,000, total partners salary allowances are 300,000, and total interest on the partners' original capital balances is 200,000, how much is the remainder of the partnership's net income? A. 800,000 B. 400,000 C. 200,000 D. 100,000 E. None of the above
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